Veris Gold Corp. Reports Record Production

VANCOUVER - Veris Gold Corp. reported continued growth at the Company's three wholly owned Jerritt Canyon gold mines and processing plant in Elko County, Nevada. Jerritt Canyon is operated by Veris Gold USA Inc. a wholly owned subsidiary of the Company.

During the month of September the plant averaged over 4,452 tons through the roasters per operating day resulting in the production of 15,244 ounces of gold from Jerritt Canyon ore; and, an additional 2,048 ounces from 30,025 tons of ore milled for Newmont Mining Corp. On average, the operations achieved recoveries from Jerritt Canyon ore of 88% for the month, continuing to significantly improve on recoveries from earlier in the year. The Company expects these improvements to continue, and is looking to establish recoveries over 90% by mid-2014.

Franìois Marland, President and CEO of Veris commented, "Our team at Jerritt Canyon continues to deliver excellent results and September is further evidence that we are on track. Furthermore, I'm pleased to report that we mined over 88,364 tons of ore from our three underground gold mines with an overall average grade of 0.178 ounce per ton (6.1 grams per ton). Most of the mined ore came from our contract miner, Small Mine Development ("SMD"), who operates both our Smith and Starvation Canyon Mines. September was also a strong month at the SSX-Steer Mine, producing 28,698 tons. However, improvements continue at the SSX-Steer Mine in order to progress the overall grades of the ore, and increase the level of production. This, combined with the excellent performance at the Jerritt Canyon processing plant, enabled us to produce a total of 17,292 ounces for the month from our mining operations and toll milling production combined. Management expects that with the existing toll milling contracts; the strong performance of SMD; and, our improvements at the SSX-Steer Mine and the processing plant, that we could have a strong fourth quarter."

Marland further commented, "One of our most important assets enabling the continued growth at Jerritt Canyon is our core team, which we have taken significant steps to improve in 2013. We have worked very hard to ensure that our team keeps delivering positive results and I am pleased to report that under the continued leadership of Graham Dickson, our COO, the plant is averaging a very solid 4,452 tons per operating day and we have had several weeks of over 5,000 tons."

In the third quarter to date, the SSX-Steer Mine produced a total of 77,776 tons containing 11,885 ounces of gold, averaging 845 tons per day. The Smith Mine has produced 141,369 tons containing 22,518 ounces of gold averaging 1,537 tons per day for the quarter. At Starvation Canyon a total of 56,680 tons were mined containing 12,234 ounces of gold for an average of 616 tons per day. An improvement in grade has been seen at all of the operating mines with mine grades averaging approximately 0.17 ounce per ton (5.8 grams per ton) for the quarter to date.

Total ore processed at the Jerritt Canyon processing plant in September includes 30,025 tons from Newmont. The Company ran these tons in approximately seven days, thus averaging 4,289 tons per day and produced 2,048.2 gold ounces for Newmont. The Company continues to target additional toll milling agreements for 2014.

The plant processed a total of 126,884 tons in September, averaging over 4,452 tons per operating day with over 5,000 tons per operating day during many weeks. So far this quarter, allowing for the annual maintenance shutdown taken in July, the plant has run a record 314,506 tons averaging over 4,032 tons per operating day. Recovery rates remain in the 85-88% range and as noted previously, ore grades continue to improve.

The Company has made significant progress to achieve the targeted production of 145,000 ounces of gold for the year from its three existing underground mines. We will continue to develop a sustainable, long-term mining plan at the SSX-Steer Mine and continue to optimize plant capacity at over 4,300 tons per day, while processing both Jerritt Canyon mined ore and toll milling third party ore. The Company will concentrate its mining efforts on optimizing grade and output from the SSX-Steer Mine and has targeted early 2014 to recommence development of its fourth mine, Saval 4. The Company will continue to target operating cash costs per ounce sold in the $850 range by the end of 2013, to be achieved through a combination of throughput improvement and ongoing cost reduction efforts. The Company is also developing a targeted drill program for 2014 with the focus on increasing Jerritt Canyon production tonnage.